dunker1

It wasn't something published in Moneyweek, just something he came across elsewhere. Thanks anyway.

A few months back Dominic posted a link to a site/blog with an article about the'cult' of the on line gold/silver bulls, which lead on to a further discussion of cults in general. Can anyone remember the site or even better provide the link as I can't recall which thread it appeared on and lack the patience to trawl through to find it. Thanks in advance.

In the world of KWN there never is any downside for the PM's.

Impressive takedown indeed.....hats off !!!

Oh dear !!! I have been wasting my time - standing in the back garden late at night, peering into the night sky, waiting for Messrs Turk, Sprott and Morgan to arrive in a solid silver rocket, then to be whisked off to that golden moon we have all been promised.

I wonder if major doubts are spreading amongst the silver bulls. Quite obviously it isn't performing as expected in the catastrophic environment we have. The ridiculous price quotes we have seen from all those with an agenda (Turk, Sprott etc.), plus the multitude of websites pushing the story- have no doubt suckered in a lot of people looking for riches and not just wealth preservation, it can often appear to be only a one way bet where there is absolutely no possibility of it going the wrong way, and anyone with an alternative opinion is regarded as a sheep with no understanding of the situation, could it be the gold and silver followers are the sheep ? What makes me chuckle is when the PM's are crashing and people come along with their "I hope it plummets astronomically so I can back up the truck", I don't believe this for one minute, you can almost feel their pain as they say it through gritted teeth. Lets face it, nobody has a crystal ball and has absolutely no idea how this eventually pans out, we are in totally unchartered waters.

http://citywire.co.uk/money/chart-of-the-day-gold-not-living-up-to-safe-haven-status/a552283?ref=citywire-money-latest-news-list

The silver rollercoaster heading down.......I see $25-$27 at year end.

Don't worry ! If you listen to the likes of James Turk - it will probably be 5,000 tomorrow.

I couldn't bring myself to add to core silver holdings unless it retested the recent lows of $26/27, a price I would be quite confident in it reaching in this catastrophic climate.

James Turk's $75 Silver at year end isn't looking very likely, unless there was a misprint or glitch on a sound recording and he actually quoted $25.

A near or there 100% gain in 2 months ? Seeming extremely unlikely I would say. Silver isn't doing the job of safe haven that was predicted as inevitable in the mass turmoil currently taking place, it just gets sold off generally as a risky asset on any new piece of catastrophic news. Sure it is a big head scratcher for the bulls when we have an environment in which they would have anticipated a far far higher price for silver. If then we are awaiting the industrial side to kick in ( read that it could be supposedly 70% of demand in the future), then surely a massively bankrupt western world and slowing growth elsewhere isn't exactly bullish. Also factor in the inevitable margin hikes etc. that occur as soon as any sign of steep inclines in price occur in the PM's, do you think a rise of 100% would happen with no interference ?

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/12_James_Turk_-_Expect_%242%2C000_Gold_Within_45_Days.html Sure I can find numerous examples.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/1_James_Turk_-_Expect_a_Big_September_for_Gold_%26_Silver.html James Turk often makes the most extreme calls of all the multitude of bulls that are around, and they never ever seemed to be called to account when there predictions prove to be way off the mark. Strange as he appears so conservative in appearance and tone. I am in both phys silver and gold, but I do sometimes become peeved by the almost cultishness of many of the sites that push the whole silver/gold story. The aforementioned King World news for example, never is a dissenting voice or alternative opinion seen or heard, and the interviewees are just fed soft questions that back up the overall argument. In fact, it does appear that any alternative opinions generally are shot down and accusations of manipulation instantly thrown as soon as prices move in the wrong direction.

Would certainly take some courage and confidence in the silver story to buy in at $32-33 with what is unfolding globally and no doubt what still lies around the corner.